Seabridge Gold (NYSE:SA) Hits New 1-Year Low – Time to Sell?

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $10.34 and last traded at $10.47, with a volume of 145355 shares changing hands. The stock had previously closed at $10.64.

Seabridge Gold Price Performance

The business has a 50-day simple moving average of $11.92 and a two-hundred day simple moving average of $14.75. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -41.60 and a beta of 1.11. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.59.

Hedge Funds Weigh In On Seabridge Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in Seabridge Gold by 116.7% in the 3rd quarter. US Bancorp DE now owns 2,232 shares of the basic materials company’s stock worth $37,000 after buying an additional 1,202 shares in the last quarter. R Squared Ltd bought a new position in Seabridge Gold in the 4th quarter worth $28,000. Lee Danner & Bass Inc. acquired a new position in shares of Seabridge Gold during the fourth quarter worth approximately $70,000. HighTower Advisors LLC acquired a new stake in Seabridge Gold during the fourth quarter worth about $118,000. Finally, Ewing Morris & Co. Investment Partners Ltd. bought a new stake in Seabridge Gold in the 4th quarter valued at $138,000. Institutional investors and hedge funds own 34.85% of the company’s stock.

About Seabridge Gold

Seabridge Gold Inc, together with its subsidiaries, engages in the acquisition and exploration of gold properties in North America. The company also explores for gold, copper, silver, and molybdenum deposits. The company was formerly known as Seabridge Resources Inc and changed its name to Seabridge Gold Inc in June 2002.